Keeping your finances organised is important for every business. That’s why e-invoicing is such a game-changer. It’s a simple and efficient way to send and receive invoices electronically. For small businesses in the supply chain, invoices are a necessity as they play a big role in how and when customers pay for your services.
Why does your business need e-invoices?
- Not only does e-invoicing save time and reduce the risk of errors, it is convenient. You can send invoices from anywhere, at any time, which is especially useful if you have clients or customers in different states. You can send e-invoices from an app on your mobile phone or even from WhatsApp if you’re a Pivo Business customer.
- Another advantage of e-invoicing is the security it provides. With paper invoices, there’s always a risk of them being lost, stolen or damaged. E-invoicing eliminates this risk by storing all your invoices securely online, where they can be easily accessed and managed.
- By eliminating the need for paper and printing, you can save a significant amount of money on administrative expenses. And because e-invoicing can be automated and streamlined, you can also reduce the need for manual data entry and free up staff time for more important tasks. An internal survey conducted by Pivo showed that businesses save an estimated ₦2,000 and about an hour daily when they use e-invoices.
- It’s also worth mentioning that e-invoices are eco-friendly. Using ink, paper, and sometimes courier services to deliver invoices increase carbon emissions. E-invoices offer an eco-friendly option, thus reducing damage to the environment.
- Perhaps the most significant benefit of e-invoicing is that it helps businesses get paid faster. One of the major financial challenges logistics and supply chains businesses have is the time between when a service is delivered and when payment is made. This impacts the business’ cash flow which in turn affects the financial health of the business. E-invoicing helps you stay on top of your cash flow by giving you real-time updates on when your invoices have been sent and paid.
E-invoicing is a powerful tool for small businesses that want to streamline their operations, save money, and reduce their environmental impact. With its convenience, security, and cost savings, it’s a no-brainer for anyone looking to stay ahead of the game.
Signing up for Pivo Business takes less time than writing an invoice. With Pivo Business, you can explore new frontiers in your business with e-invoicing and other business solutions. Download the Pivo App here.